Stephen Roach Account Quotations

There is good reason to believe that a sharp weakening in the value of the U.S. currency is essential to the global rebalancing that must begin to take place if the world's current account imbalances are to be corrected,

I fully expect that the Chinese officials will address these tension points, but will not waver from their steadfast commitment on a medium- to longer-term basis of an open capital account and currency convertibility,

The case for a classic U.S. current account adjustment grows more compelling. This could lead to renewed weakening of the dollar and higher long- term real interest rates.